Cyndeo Wealth Partners LLC Sells 5,669 Shares of Adobe Inc. $ADBE

Cyndeo Wealth Partners LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 73.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,095 shares of the software company’s stock after selling 5,669 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Adobe were worth $811,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST increased its position in shares of Adobe by 3.0% during the second quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 750,000 shares of the software company’s stock worth $290,160,000 after acquiring an additional 21,962 shares during the period. 3Chopt Investment Partners LLC boosted its stake in Adobe by 96.8% in the second quarter. 3Chopt Investment Partners LLC now owns 2,545 shares of the software company’s stock valued at $985,000 after acquiring an additional 1,252 shares in the last quarter. Stiles Financial Services Inc boosted its stake in Adobe by 9.7% in the second quarter. Stiles Financial Services Inc now owns 6,098 shares of the software company’s stock valued at $2,359,000 after acquiring an additional 540 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in Adobe by 17.1% in the second quarter. McKinley Carter Wealth Services Inc. now owns 14,850 shares of the software company’s stock valued at $5,745,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Callan Family Office LLC boosted its stake in Adobe by 80.8% in the second quarter. Callan Family Office LLC now owns 17,945 shares of the software company’s stock valued at $6,943,000 after acquiring an additional 8,020 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BMO Capital Markets lowered their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday. Bank of America lifted their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Finally, Piper Sandler lowered their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 2.9%

ADBE opened at $337.51 on Friday. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $351.67 and a two-hundred day moving average of $370.78. The stock has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.56 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $4.65 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.